How to Become a More Self-Aware CEO

In the age-old fairy tale “The Emperor’s New Clothes,” a ruler is shown as being too pompous (and vain) to recognise a very evident reality. He was also too intimidating and powerful for his official advisors to provide him with honest advice.

As it happens, power can taint our capacity to objectively view ourselves and receive constructive criticism. Just take a look at the current saga surrounding Theranos’ disgraced founder. Even while most people believe they are self-aware, only 10% to 15% actually are, according to studies. Additionally, the risk of losing touch increases as we move up the corporate ladder. CEO Disease is what organisational psychologist Dr. Tasha Eurich refers to. She says that experience can make us overconfident about our level of self-knowledge “just as it might lead to a false sense of assurance about our performance.”

According to a study cited by Eurich, managers with more experience were found to be less precise in assessing how effective their leadership was than managers with less experience.

Self-awareness is essential for entrepreneurs: More self-aware leaders typically have better functioning organisations. Being self-aware aids CEOs in making better decisions. But becoming truly self-aware usually requires intentional effort and teamwork; and it doesn’t always come naturally.

Here are a few methods supported by experts that have assisted CEOs in developing a stronger sense of self-awareness.

1. Set up feedback channels

First of all, when we talk about “self-awareness,” we’re talking about how we perceive ourselves and knowing what emotions we are experiencing at any one time. It also entails being aware of how others perceive us. One method for achieving both types of self-awareness is feedback.

It is now widely accepted that feedback should be continuous and ongoing rather than, say, a single (stressful) annual assessment. But some businesses go a step farther and build up two-way channels for feedback, like the hardware retailer Screwfix: Managers and employees often exchange feedback with each other. Employee-driven initiatives that streamlined the customer experience were the result of the approach for Screwfix. It’s a great method for business owners and staff to learn more about how people genuinely perceive them. It can also remove any obstacles to leaders in getting open and honest feedback.

Then there is what Eurich refers to as “loving critics”; you might refer to them as trusted advisors; these are the individuals who have your best interests at heart and are not afraid to speak the truth to you. Eurich and her team discovered through interviews that people who increased their external self-awareness routinely asked their loving critics for advice.

Receiving constant feedback from both co-workers and the individuals you trust can help you become exponentially more aware of who you are. This may require having awkward conversations, but honest feedback may be a difficult pill to swallow, especially when it comes to our own businesses.

2. Ask “what” not “why”

According to Eurich, excessive introspection can occasionally result in a loss of self-awareness, particularly when it results in negative and ruminative thinking. Eurich suggests a small change: ask yourself “what” instead of “why” to combat this inclination without abandoning crucial insight. “What” questions keeps us objective, future-oriented, and equipped to act on our new ideas, she explains.

So instead of Why do I always feel terrible after meetings?, try What tends to happen during meetings that causes me to feel a certain way? What can I do to change it? This will help you analyze the situation with a more impartial eye.

This same concept also applies to questions you ask your partners and colleagues. For instance, Robert S. Kaplan describes how the CEO of a medium-sized pharmaceutical company, one of his customers, was having issues with his staff and doubting his ability to lead. Kaplan encouraged him to ask just one question of each of his direct reports: “What suggestions would you have to assist me become more effective? Give me one or two specific recommendations that I can put into practise. Please give me some advice.”

Although initial interactions were inevitably a little awkward, the CEO ultimately received unexpected and very helpful advice.

So, to break through the emotions and acquire insight, scrutinise ourselves and others by using the “what” method.

3. Practice regular self-reflection

Regular self-reflection is our final method for enhancing self-awareness as a CEO. Try meditation, literally examining yourself in the mirror (and observing your attention and emotions), or journaling, for instance.

According to professional mental health counsellor Celeste Viciere, who speaks to MSNBC, “Focus on your day as you write in your journal. Inquire about your feelings. Consider what triggers may have brought up any bad emotions you may be carrying from the day. Consider what might have caused you to feel joyful while you are experiencing any favourable emotions.”

Writing for The Kellogg School of Management, Brenda Ellington Booth and Karen Cates argue that self-reflection must also be strategic and deliberate, taking into account what is most essential for the individual and the company. Self-reflection enables you to be proactive rather than reactive. It isn’t only about looking backward.

In other words, it’s not sufficient to “know thyself.” To make positive changes and manage your emotions well, try to develop self-awareness. This will help you become the CEO and person your organisation needs, as well as the leader you want to be.